We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather instruct a Kensington based conveyancing firm?
Do check but the the likelihood is that allocate you one of their panel conveyancers where you accept the "fee-free" deal. Contact the lender and check if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Kensington.
We had chosen solicitors with offices in Kensington on the Principality solicitor approved list. They are now charging me a supplemental charge for the legal aspects of the Principality mortgage. Is this an additional conveyancing fee specified by Principality?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your conveyancer may levy a fee for this. The fee is not dictated by Principality but by your Kensington conveyancing practitioner. Plenty of firms on the Principality panel will charge ’dealing with mortgage’ fee and others do not.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Kensington solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Kensington surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Kent Reliance have agreed my mortgage in principle, my offer on a apartment in Kensington has been agreed to, what happens next?
The property agent will wish to be advised as to your lawyer's details (ensure that the conveyancers are on the lender’s panel). Call up Kent Reliance or your financial adviser and finish off any appropriate documentation. Kent Reliance will appoint a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kensington.
Me and my brother own a terraced Edwardian house in Kensington. Conveyancing practitioner represented me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching property. Is it worth asking National Westminster Bank to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kensington and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the work.
How does conveyancing in Kensington differ for newly converted properties?
Most buyers of new build residence in Kensington contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Kensington typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Kensington or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Kensington prior to retaining lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may refuse to give a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kensington. Conveyancing may be slightly more expensive based on your lender's requirements.
I wish to sublet my leasehold apartment in Kensington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Some leases for properties in Kensington do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Kensington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Kensington flat is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case related to 1 flat. The unexpired term as at the valuation date was 37.79 years.